Asked by
Elisa Sierra
on Dec 17, 2024
Verified
Most studies have found that tobacco and marijuana are complements rather than substitutes.
Complements
Products or services that complement each other, resulting in a rise in demand for one causing a corresponding increase in demand for the other.
Substitutes
Goods or services that can replace each other in use, whereby an increase in the price of one leads to an increase in demand for the other.
- Diagnose the characteristics and repercussions of substitute and complementary goods on market demand trends.
Verified Answer
KM
Learning Objectives
- Diagnose the characteristics and repercussions of substitute and complementary goods on market demand trends.
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